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<br />South Bend Redevelopment Commission <br />Regular Meeting –January 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />D. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />agent, responded. Habitat entered into a <br />letter agreement with the owner of the <br />Kroger store for $265,000, as the price it <br />could pay and the owner agreed to accept <br />that amount. <br /> <br />The lot to the north was not really on the <br />market. But we spoke with the owner, <br />Watcon, who agreed to a purchase price of <br />$80,000, $20,000 less than he had been <br />willing to sell for previously. <br /> <br />Ms. King thought the $265,000 price was <br />very high since it has been sitting vacant for <br />so long. No one else is interested in it. <br /> <br />Mr. Pink said he had looked with Habitat at <br />over a dozen properties in Mishawaka and <br />South Bend. The prices for the properties <br />they looked at ranged from $12-$20 per sq. <br />ft. The purchase price of Kroger is $10 sq. ft. <br /> <br />Ms. King reiterated her question: has anyone <br />done a recent appraisal of this property? The <br />answer was no. <br /> <br />Mr. Varner asked if the purchase of the <br />Kroger building was contingent on Habitat <br />being able to also purchase the parking lot. <br />Mr. Pink said that it would be. The owner of <br />Watcon was more than willing to cooperate <br />in this deal. His only request was to be <br />allowed parking for his employees if he <br />should expand and need to meet additional <br />zoning requirements. <br /> <br /> 26 <br /> <br />